Vancouver, B.C. – TheNewswire - September 8, 2021 – This news release is being disseminated by Crest Resources Inc. (the “Acquiror”) (CNSX:CRES.CN) (OTC:CRSTF) pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”), in connection with the acquisition of certain common shares (the “Common Shares”) of Golcap Resources Inc. (the “Issuer”), a British Columbia corporation whose common shares are listed for trading on the Canadian Securities Exchange under the symbol “GCP”.  

Effective September 7, 2021, the Acquiror acquired 2,370,000 Common Shares of the Issuer at a price of $0.006 per Common Share for the purchase price of $14,220 by way of a private transaction (the “Transaction”).

This Transaction represents an increase of 8.50% in the Acquiror’s securityholding percentage in the issued and outstanding Common Shares of the Issuer or an increase of 25.35% in the Acquiror’s securityholding percentage of the deemed outstanding Common Shares of the Issuer including the 6,300,000 warrants held by the Acquiror on an exercised basis.

Prior to the Transaction, the Acquiror owned and controlled 6,300,000 Common Shares of the Issuer representing 22.58% of the then issued and outstanding Common Shares of the Issuer based on a total of 27,905,586 Common Shares outstanding as of September 7, 2021; or 12,600,000 Common Shares of the Issuer representing 36.84% of the outstanding Common Shares assuming exercise of the 6,300,000 warrants held by the Acquiror.

Subsequent to the Transaction, the Acquiror owned and controlled 8,670,000 Common Shares of the Issuer representing 31.07% of the then issued and outstanding Common Shares of the Issuer based on a total of 27,905,586 Common Shares outstanding as of September 7, 2021; or 14,970,000 Common Shares of the Issuer representing 43.77% assuming exercise of the 6,300,000 warrants held by the Acquiror.

The Acquiror acquired 2,370,000 Common Shares of the Issuer at a price of $0.006 per Common Share for the purchase price of $14,220 by way of a private transaction.

The Acquiror has acquired the Common Shares for investment purposes and in accordance with applicable securities laws.  The Acquiror may, from time to time, acquire additional common shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of the Issuer in the open market or otherwise, and reserves the right, subject to applicable securities law, to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Issuer and other relevant factors.

A copy of the early warning report dated September 8, 2021 to be filed by the Acquiror in connection with the acquisition of the Common Shares of the Issuer will be available on SEDAR at www.sedar.com under the Issuer’s profile.  A copy of such report will also be available from the Acquiror upon written request to Crest Resources Inc. at #3043, 595 Burrard Street, Vancouver, BC V7X 1J1 Tel: 778 819 2709.

For additional information, contact:

Emma Fairhurst

Chairperson and interim CEO

Crest Resources Inc. 778 819 2709